Net Income (Loss) per Share

Basic net income per share represents net income (loss) divided by the weighted-average number of common shares outstanding for the period. Diluted net income per share represents net income divided by the weighted-average number of common shares outstanding, including the dilutive impact of potential issuances of common stock. The reconciliation of basic to diluted weighted-average common shares outstanding is as follows:



	Three Months Ended September 30,		Six Months Ended September 30,
	2017	2016	2017	2016
Weighted-average shares used in basic computation	32,015,000	32,057,000	32,003,000	32,041,000
Dilutive effect of stock-based awards and options	257,000	365,000	253,000	—
Weighted-average shares used for diluted computation	32,272,000	32,422,000	32,256,000	32,041,000

Excluded*:
Annual RSUs and Annual PSUs	92,000	131,000	132,000	420,000
SARs	—	90,000	—	480,000
LTIP PSUs	269,000	396,000	269,000	396,000
LTIP NQSOs	397,000	—	397,000	—
Deferred non-employee director restricted stock awards	3,000	—	3,000	10,000
Employee Stock Purchase Plan	—	—	—	9,000

*The stock-based awards and options excluded from the dilutive effect were excluded either because the shares were anti-dilutive or because the necessary conditions had not been satisfied for the shares to be issuable based on the Company's performance for the three and six months ended September 30, 2017 and 2016. The number of shares reflected for each of these excluded awards is the maximum number of shares issuable pursuant to these awards. Refer to Note 8, "Stockholders' Equity", for more information on the nature of these awards.